×
206
Fashion Jobs
PAUL SMITH
Junior Art Director - Japan
Permanent · TOKYO
STEPHANIE JACKSON RECRUITMENT.
Supervisor - Watches / Diamonds
Permanent · LONDON
PAUL SMITH
Franchise Sales Executive - Womenswear
Permanent · LONDON
THE POP GROUP
Account Manager
Permanent · LONDON
LEVI'S
Key Account Manager
Permanent · London
HUGO BOSS
Sales Associate - Manchester Trafford
Permanent · Manchester
DUMEBI
Studio Assistant Intern
Internship · LONDON
SPOT ON MINDS LTD
Studio Intern - Luxury Brand (Part-Time - Remote Work Optional)
Internship · LONDON
THE KOOPLES
Sales Assistant Edinburgh - Part-Time (20h)
Permanent · EDINBURGH
THE KOOPLES
Sales Assistant Edinburgh - Full Time
Permanent · EDINBURGH
THE KOOPLES
Concession Manager Edinburgh
Permanent · EDINBURGH
GUCCI LIMITED
Gucci Client Advisor
Permanent · LONDON
GUCCI LIMITED
Gucci Client Advisor
Permanent · LONDON
YVES SAINT LAURENT UK LIMITED
Sales Associate
Permanent · LONDON
SPOT ON MINDS LTD
Assistant to The Creative Director (Part-Time - Remote Work Optional)
Internship · LONDON
PYOU
E-Commerce Manager - Fashion Luxury Brand
Permanent · LONDON
NEW BALANCE
Store Manager - Bridgend
Permanent · Bridgend
CLAUDIE PIERLOT UK
Sales Assistant - 18h - Temporary - Bicester m/f
Fixed-term · BICESTER
STORM LONDON
Social Media And Marketing Intern
Internship · LONDON
SARVIN
Luxury PR & Fashion Design Internship
Internship · MANCHESTER
STEPHANIE JACKSON RECRUITMENT.
Sales Associate (Bicester Village)
Temp/seasonal · BICESTER
LEVI'S
Stock Room Associate
Permanent · Ellesmere Port
By
Reuters API
Published
May 7, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ferragamo sees currencies, channel mix denting 2018 results

By
Reuters API
Published
May 7, 2018

Italian luxury group Salvatore Ferragamo said on Monday it expected 2018 results to be undermined by currency swings and an unfavourable mix of its sales channels, after posting first quarter results in line with expectations.


Salvatore Ferragamo - Fall-Winter2018 - Womenswear - Milan - © PixelFormula


The Florence-based company, which is battling against falling sales and profitability, partly due to a clean-up of inventories, issued a profit warning in December.

In a statement it said current currency trends and ongoing unfavourable channel mix would have a negative impact on sales, margins and results this year.

Although like-for-like sales in the first three months of the year were up 0.3 percent, sales in its retail channel were down 3.6 percent at current exchange rates in the same period.

Wholesale rose 2.6 percent.

The group said it would "continue to invest in a focused programme aimed at relaunching the Brand and optimising the processes," and still has work to do to turn itself around, its chairman said.

“We have to work, we still have a lot to do,” executive chairman Ferruccio Ferragamo said on Monday.

The shoemaker parted ways with Chief Executive Eraldo Poletto in March a year after he unveiled an ambitious plan aimed at refreshing the style of its products and increasing its appeal to a younger clientele.

Ferragamo said the group would press on with the strategy started under Poletto but would put on hold “everything that is very costly”.

Last month, the family-controlled company appointed a Gucci executive - Micaela Le Divelec - as general manager of the group, postponing the choice of a new CEO.

Ferragamo reiterated he hoped the new CEO would come from within the company.

© Thomson Reuters 2021 All rights reserved.